Modular Kitchen Global Market 2024 To Reach $28.31 Billion By 2028 At Rate Of 4.6%

Modular Kitchen Market Report 2024-2033: Size, Share, and Insights

LONDON, GREATER LONDON, UNITED KINGDOM, September 12, 2024 /EINPresswire.com/ -- The modular kitchen market has experienced robust growth in recent years, expanding from $22.82 billion in 2023 to $23.63 billion in 2024 at a compound annual growth rate (CAGR) of 3.6%. The growth in the historic period can be attributed to changing lifestyles, urbanization, customization, ease of installation, environmental awareness.

Strong Future Growth Anticipated
The modular kitchen market is projected to continue its strong growth, reaching $28.31 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to health and hygiene, multifunctionality, modular furniture, kitchen as a social space, consumer convenience.

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Growth Driver Of The Modular Kitchen Market
The growth of urbanization will support the growth of the modular kitchen market going forward. Urbanization is increasing demand for infrastructure growth, which in turn leads to a greater demand for modular kitchen. Modular kitchens are designed to maximize space and functionality, making them an ideal solution for urban homes where space is often limited. With their customizable and flexible designs, modular kitchens can be tailored to fit any space, making them a popular choice for urban homeowners.

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Major Players And Market Trends
Key players in the modular kitchen market include Nobilia GB Ltd., Hafele GmbH & Co KG, Hettich Group, IFB Industries Ltd., Häcker Küchen GmbH & Co. KG, Lineadecor USA LLC.
Major companies operating in the modular kitchen market are adopting strategic collaborations to deploy a hassle-free launch, be more cost-efficient than brick and mortar, and have less impact on the environment while increasing profitability for owners.

Segments:
1) By Design: L-Shape, U-Shape, Parallel, Straight, Island
2) By Product: Floor Cabinet, Wall Cabinet, Tall Storage
3) By Raw Material: Lacquered Wood, Wood Sheets and Melamine, Metals, High-Pressure Laminates, Other Raw Materials (Glass, Acrylic)
4) By Distribution Channel: Offline (Contractors, Builders), Online

Geographical Insights: Europe Leading The Market
Europe was the largest region in the modular kitchen market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the modular kitchen market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

Modular Kitchen Market Definition
A modular kitchen is also referred to as modern kitchen furniture that consists of a furniture layout with modules of cabinets, which hold kitchen commodities. It facilitates the effective usage of kitchen spaces which are fitted together with symmetry to create whole functional furniture with proper segmentation.

Modular Kitchen Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Modular Kitchen Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on modular kitchen market size, modular kitchen market drivers and trends, modular kitchen market major players, modular kitchen competitors' revenues, modular kitchen market positioning, and modular kitchen market growth across geographies. The modular kitchen market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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